Smokin gun!, page-7

Below on the 25th June 2014 is the last quote about the staged approach to mining using the gravity processing plant; less than 2 weeks later the Tam / Coyote deal was signed on the 7/7/2014. The TAM / Coyote deal was well thought out with a 2 week feasibility study - not!

Section 180 of the Aust Corp Act 2001 deals with Care & Diligence; 2c directors are to inform themselves of the subject matter; also the director’s or officer’s belief that the judgement is in the best interests of the corporation is a rational one unless the belief is one
that no reasonable person in their position would hold.

I seriously doubt any director of ABU who voted for the TAM / Coyote deal carried out care & due diligence in fact by voting for this deal they could not be well informed about the subject matter in fact they also deceived the entire shareholder base.

See ASX 25th June 2014;
Gold is characterised as both, fine and coarse, and has a high statistical nugget effect whereby drilling alone cannot generally provide statistical information required to define a long term and detailed mine plan. As a result ABM applies a risk managed staged approach to development at Old Pirate whereby capital expenditure is deployed sequentially and each stage of development informs the next stage. Following the successful completion of Stage 1 trial mining in 2013, ABM is now undertaking design work for the Stage 2 open pit phase. Concurrently ABM is working with the relevant authorities for final authorisation to mine as soon as possible.